However, CNBC reported Capital Economics Asia economist Daniel Martin, who forecast growth of 3 per cent in 2014, said there were a couple of factors that could hold back New Zealand's growth this year.

"First, New Zealand's two main export markets, Australia and China, are expected to slow," Martin said.

"Second, and more importantly, the Government is looking to return its budget to surplus by 2014-15.

"As such, the strong government consumption growth in the third quarter [of 2013] is unlikely to be sustained." Government spending growth rose to 2.2 per cent quarter-on-quarter in the September period, from 0.1 per cent in the second quarter, contributing to the economy's pickup in during that period.

Nevertheless, many investment strategists recommended betting on assets that were set to benefit from the country's economic surge, in particular the New Zealand dollar, CNBC reported.